‘The Wrestler’ sells to Fox Searchlight

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TORONTO — The news is out: Fox Searchlight has bought the U.S distribution rights to ‘The Wrestler.’ The Darren Aronofsky film, which had already won the prestigious Golden Lion prize at last week’s Venice Film Festival, had its debut screening here last night at the Elgin Theater. The film, which features a riveting performance from Mickey Rourke as an over-the-hill wrestler, was considered the hottest potential buy at the festival. Searchlight chief Peter Rice was not available for comment, but rival bidders say the sale was completed in the wee hours this morning, with the film going for a purchase price in the $4 million-to-$5 million range.

Sony Pictures and Lionsgate were also leading bidders, but Searchlight, which has emerged in recent years as the specialty world’s leading marketing and distribution entity, came away with the prize. It is expected that Searchlight will release the film later this year, at least in L.A. and New York for an Academy Award qualifying run. The sale gives Searchlight two of the top attractions here: The company recently took over U.S. marketing and distribution for Danny Boyle’s ‘Slumdog Millionaire,’ the surprise hit of the recent Telluride Film Festival, which Searchlight will release Nov. 28th. The studio shares the film with Warner Bros., which didn’t have enough space on its schedule or passion for the project.

I have a more detailed look at ‘The Wrestler’ screening last night that should surface here on the blog later this morning.